I lost my vegetative state, and I became the richest man in the world

Chapter 1377 Qionghai Real Estate Bubble!

1993 3 Month 21 Day.

Sunday.

On this morning, Yang Ming was invited by the country and Qionghai.

He will go to Qionghai for the first time.

Before 1988, Qionghai was still part of Guangdong Province.

Then Qionghai became a province on its own, and it became the largest experimental area.However, this experimental area seemed destined to fail from the beginning.

Before 1991, housing prices in Qionghai were mediocre. After 91, housing prices increased five times in three years, and reached a peak in 3 at 5 yuan per square meter. Historically, Shanghai’s housing prices only rose 93 years later in 7500. rise to this level.

The average price of commercial housing in Haikou in 1988 was 1350 yuan per square meter.

However, when the construction of Qionghai was first proposed in 1991, the price was 1400 yuan per square meter.On the verge of collapse in 1993, the price at that time was 7500 yuan per square meter.

The price of land in Qionghai has also increased from 15 yuan per mu to 600 million yuan per mu.

83% of Haikou City’s GDP and 74% of Sanya’s GDP come from land transactions.

At its peak, there were more than 650 real estate companies on this island of 2 million people.There is almost one real estate company for every 300 people.

Their gameplay is also very simple. They mortgage the land to the bank, obtain a loan, continue to expand, buy land, design drawings out of thin air, and sell off-the-plan properties with the drawings.When the land price increases, construction may not have started yet, and then the land will be transferred to the next owner along with the design drawings.

After a piece of land has changed hands more than a dozen times, the land is still land and the buildings have not yet been built. However, every company that drums up the money and spreads the flowers has taken dividends and made a lot of money.

The grass on that piece of land was still taller than people, and the drawings had been designed many times, but many developers seemed to have no idea of ​​starting construction, because instead of having money to invest in construction at that time, it was better to find another piece of land to invest in the second phase and the third phase. Expect.

This is no longer exaggerated, but crazy!

How crazy was the real estate speculating scene at that time?

There was a homeless man who slept at the door of a sales office at night. When he woke up in the morning, he found that he had somehow become the first person in line to buy a house. When he was about to leave with a few pieces of rags, several people ran out from behind the line. Offered to buy his place... In the end, the wanderer took the 7 yuan that fell from the sky and left happily.

At this time, Qionghai was already in front of the real estate bubble.

Historically, the real estate bubble in Qionghai still caused a great impact.

However, this time I was invited by Guoguo and Qionghai to take a look.

Maybe the old gentleman, Mr. Jiang and others have seen the problem over there, but don't know how to solve it.

For Yang Ming, this trip to Qionghai is actually equivalent to a trip.

This time, Yang Ming brought Yang Jirong and his wife, Azhu, Zhong Chuhong, Guan Jiahui, Li Jiaxin, Lan Jieying, Zhou Huimin, Li Zi and others, and He Chaoluo, Yingla, Alina and others followed.

Especially Sanya, Qionghai, is known as the city with the warmest winter in China.

At this time in March, the weather in Xiangjiang is already very warm, but the weather in Sanya or Qionghai is still a little different from that in Xiangjiang.

this morning.

Yang Ming and others arrived at Hong Kong Kai Tak International Airport.

Yang Ming's private plane was already waiting there.

When Yang Ming and others boarded the private plane, they flew directly from Xiangjiang to Haikou.

It takes about an hour and a half to fly directly from Xiangjiang to Haikou.

This is more than an hour.

Yang Ming felt that the time passed very quickly.

When his private plane arrived at Haikou Dayingshan Airport.

This is the old Haikou Airport, and the new airport is still under construction.

But this time Yang Ming came to Haikou, it had a great influence in Qionghai and even domestically.At this time, Qionghai Real Estate was like a patient who was about to be critically ill, and now Yang Ming's arrival was like a patient who was about to be critically ill and received a strong injection.

The emergence of Yang Ming has given many home buyers and even real estate investors great confidence.

However, when Yang Ming got off the plane, people from China and Qionghai came to pick him up.

Yang Ming didn't say a word about the current real estate in Qionghai.

Yang Ming and others got into the car.

When leaving here, people asked him from time to time along the way, but Yang Ming always looked out the window.

He saw something outside.

Of course it's an unfinished building.

What was the most popular in Qionghai, including Haikou, Sanya and other places in the 90s?

It's an unfinished building.

It can be said that unfinished buildings are everywhere, just like the scars of a city.

The real estate development in Qionghai has been spreading rapidly before, which is more like the time when the real estate industry in Xiangjiang was just developing in the 60s.

Of course, at that time, the demand for real estate in Xiangjiang was still huge.

However, real estate in Xiangjiang has also experienced plummeting and skyrocketing prices.

In fact, the development of real estate in Xiangjiang and Qionghai are completely different, and they are not of the same nature.

The population of Xiangjiang may not be as large as that of Qionghai, which developed at the same time. However, Xiangjiang is too small and Qionghai is too large, which is also incomparable.

"Are all the unfinished buildings outside?" Yang Ming asked.

"Indeed, they are all unfinished buildings." The man next to him said awkwardly.

When he arrived at the hotel where he was staying, Yang Ming had been staying here for the past few days.

For Yang Ming, he had been to Qionghai many times in his previous life, including Haikou and Sanya, but his main impression of this place was tourism.

Of course, Qionghai's tourism industry was also greatly affected due to the robbing of customers, and Yang Ming never came again.

And it's still the early 90s.

At this time, Qionghai's most important tourism industry had not yet developed. Instead, it relied on real estate to generate a large amount of real estate.

After Yang Ming and others checked into that hotel.

this morning.

Many people came to see Yang Ming, including those who were concerned about the current development of Qionghai's industry.

Another question is whether the current Qionghai real estate industry is old?

Yang Ming knew that Qionghai's real estate industry was definitely hopeless now.

This has nothing to do with investing.

Because this is just a trick to spread the word, it is a lie, but it is mostly banks and even some home buyers.

Even the largest commercial bank in Qionghai, Qionghai Development Bank, was forced to close down. You can imagine how serious this is.

It is very similar to the real estate bubble in Japan, but different.

Dongyang's real estate bubble is relative to the whole of Dongyang.

The real estate bubble in Qionghai is only for Qionghai.

Of course, it took many years for Qionghai’s real estate bubble to recover.

This really surprised Yang Ming, why the real estate bubble in Qionghai was so serious. It can be said that this was a waste of many years of precious time for Qionghai at that time.

When he was noon.

The domestic and Qionghai authorities warmly welcomed Yang Ming's arrival.

However, in fact, before this, the Imperial Group had been investing in many cities in Guangdong Province and even in China, but there was just one place.

That was Qionghai, which was separated from Guangdong Province, and Yang Ming and the Imperial Group did not come to invest.

It stands to reason that Qionghai's geographical location is very close to Nanyang, and it is also very good in all aspects.

However, Yang Ming already knew in advance about the historical real estate bubble that broke out in Qionghai, so he did not come here to invest.Of course, there are still people who make their first pot of gold in life.

It was Pan Shiyi, Feng Lun and other Wantong Six gentlemen who escaped early and made a lot of money.

After lunch.

Yang Ming went back to the hotel to rest.

There are many people who want to see him now, but he guessed that they are all asking whether it is related to real estate or whether it is related to the investment of the Imperial Group.

In the eyes of those people, Mr. Yang is very powerful. If he thinks there is no problem with Qionghai's real estate, then Qionghai's real estate will definitely develop.

I even feel that if the Imperial Group invests in Qionghai, then Qionghai's real estate will definitely develop accordingly.

However, Yang Ming neither expressed his opinion on Qionghai's real estate nor said what industries the Imperial Group would invest in Qionghai.

Regarding publicity, word spread that he came to Qionghai to visit.

this afternoon.

Yang Ming fell asleep.

Then someone took him out to see the city of Haikou.

When he came from the airport just now, Yang Ming had already seen many unfinished buildings on the road.

However, when Yang Ming drove there again, he found that there were more unfinished buildings in Qionghai than he had imagined.

Some have built one floor, some have built seven or eight floors, and some have construction waste piled there. In fact, since the Spring Festival this year, real estate in Qionghai, including Haikou, has been experiencing problems.

In previous years, there were still many people rushing into real estate speculation, but now there are no more people.

Of course, some people still stay in Qionghai, hoping to find opportunities, and more people have poured into the Northeast, because there is gold everywhere in the Northeast.

Yang Ming walked around Qionghai.

After getting off the car, I saw an unfinished building not far away.

For Yang Ming, this may be a microcosm of history.

This microcosm has not changed since he came into this world.

Of course, he had basically never seen such unfinished buildings in Xiangjiang.

Of course, according to the history of domestic real estate development, in 30 to [-] years, this kind of unfinished buildings will also appear in many cities.

"Mr. Yang, do you want to see somewhere else?"

asked the person in charge.

This time, as mentioned above, in addition to protecting Mr. Yang's safety, we will make arrangements to go wherever Mr. Yang wants to go.

Now that Yang Ming has come here, apart from seeing these unfinished buildings, there seems to be nothing good to see.

. . .

Yang Ming stayed in Haikou for two days.

He originally stayed for four or five days as planned, but there was nothing interesting to see.

Then on the morning of the third day, Yang Ming and others left Haikou on a private plane and headed to Sanya.

We took a flight from Haikau to Sanya and arrived in Sanya soon.

Obviously, Sanya is more of a tourist city.

Despite this, tourism has not really taken off in Sanya.

When Yang Ming and others arrived, they had been arranged in advance for Yang Ming and others to stay in a hotel near the seaside in Sanya. At this time, Yang Ming and others were the only ones left here, as well as the hotel waiters.

When Yang Ming and others came here, they still felt that Sanya's current environment was really very good.

Blue sky and white clouds.

There are also clear blue sea and soft sandy beach.

Sanya now looks more natural than Sanya in the future.

Yang Jirong and his wife, Azhu and others thought that Yang Ming was really here for fun.

However, Yang Ming had just arrived here, and he immediately went to take a look at the situation here. Yang Ming did not expect that Sanya also had a lot of unfinished buildings, which may not be as good as Shanghai Kwan. However, the unfinished buildings here were There are also many buildings.

One after another, however, the exterior walls are undecorated and no one lives in them.

Of course, some of them still look new because they were built last year, but in their current condition, it is impossible to sell them again.

"Sir, why are all the unfinished buildings here?" He Chaoluo asked in disbelief.

"It is inevitable to spread flowers by beating the drum. You said that the housing prices here are now higher than those in Yanjing, Shencheng, Yangcheng, and Pengcheng. Do you think it is possible?"

In fact, it is impossible.

In Yang Ming's view, except for tourism, Qionghai currently has no industry at all, including agriculture, which is now very average. So what is the use of investors buying these houses now?
This means that the bubble will definitely burst.

“What about these unfinished buildings?”

"After many years, it may be blown up and rebuilt."

This takes a long time to digest.

Now the seaside here in Sanya is really nice, and the temperature is around 20 degrees Celsius, which is very comfortable.

Yang Ming actually thinks that traveling here is quite good now.

If it was at Haikou's side, it might not be as comfortable as Sanya's side.

In the next few days, Yang Ming stayed in this hotel in Sanya.

Of course, outsiders really thought that Yang Ming was just here for a trip. Apart from traveling, Yang Ming didn't say anything at all, and he didn't see the Imperial Group's inspection team coming here.

Stayed in Sanya for nearly a week.

Yang Ming and others took a private plane directly from Sanya and then returned to Xiangjiang.

After returning to Xiangjiang.

Yang Ming wrote what he saw in Qionghai during this period on the letter.

in duplicate.

He gave one copy to the old gentleman.

Give one copy to Mr. Jiang.

He immediately asked his bodyguard to send it to Tang Yun, who then sent it to the old man and Mr. Jiang.

When the two men received this letter respectively, they were already very clear about Yang Ming's suggestion.

That is Qionghai's real estate bubble is doomed.

According to Yang Ming, there are two 70%.

70% of the funds entering Qionghai are invested in real estate; 70% of the funds invested in real estate come from banks and trusts.

Most of the people who can get bank loans and land approval documents are very smart. Not only do they lose money ridiculously, but they also speculate in real estate.

At that time, there were the blue line map and the red line map. The blue line map was still under planning, and the red line map was approved by the relevant departments, that is, planned development.

Speculators just focus on the red line chart, and with just one piece of paper, they can sell five or six companies.

After the bubble burst, the bank went to recover the mortgaged assets and asked the speculators where the land was. The speculators said that the land could only be seen when the tide went out.

Real estate is overheating, and the problem is getting bigger and bigger, attracting a large amount of funds and delaying investment in key construction projects; too much long-term funds are occupied, and short-term debt risks are exposed; inflation is soaring, and residents' production and living costs are rising; local governments have long-term land allocations , competing to lower prices, resulting in serious losses of state-owned land assets; at that time, there was an urgent need to earn foreign exchange, but real estate was plundering its own people and dumping risks to banks.

In other words, in this place, the real estate bubble is doomed and cannot be saved at all. It must be punctured as soon as possible to reduce unnecessary losses as much as possible.

Also, there is the suggestion about Yang Ming’s island closure.

(End of this chapter)